aj485’s Activity

Tue Feb 24

NL

Boards Post

aj485 replied to the Online Banking board. 9:15 PM

Re: Instant transfers between banks

If you open your front door to anyone who knocks, that doesn't imply a failure of your deadbolt. Likewise, if you're a celebrity, and the answers to your iCloud security questions can be found on Wikipedia, that's not Apple's fault [more]

Sun Feb 22

NL

Boards Post

aj485 replied to the Tax Strategies board. 5:24 PM

Re: Shelters

Without knowing anything else about your situation, I ask if you are maxing out 401(k)s at work ($18,000 per individual if under 50 by the end of the year; $24,000 per individual if 50 or older by the end of the year). Then I would second the [more]

Fri Feb 20

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Boards Post

aj485 replied to the Retirement Investing board. 11:04 PM

Re: RMDs Revisted

I don't understand your logic.

Where we work there are no fees on RMDs, taxes yes, but that's on all withdrawals from TIRAs.

If you don't need the money, just transfer the asset.

When you sell there can be minimal
[more]

Sun Feb 15

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Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 12:03 AM

Re: Laddered Bond Funds

I have a significant holding in ETDs and preferred stocks, and like them a lot. But if you insist on a specific maturity date, then they won't work for you. They tend to have maturities in the 2045 timeframe, or even no maturity at all. Hmmm, just [more]

Sat Feb 14

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Boards Post

aj485 replied to the Retirement Investing board. 8:31 PM

Re: Still another IRA question

Last year, her husband got a huge bump in salary, which when added to her salary, put them over the 191,000 cut off for Roth eligibility.

In addition to looking at recharacterizing and possibly converting her contributions, be sure [more]

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Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 8:18 PM

Re: Laddered Bond Funds

BTW: I certainly haven't ruled out building one or more rungs with individual bonds or combinations of each. I simply view DMBFs as yet another option to my end purpose.

In addition to bonds, you may want to consider exchange traded [more]

Fri Feb 13

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 8:51 PM

Re: Better Strategy?

What is the better strategy for paying off cc debt if we have multiple cards and received a bonus and have some additional cash on hand?

Scenario 1
Pay the minimums on 2 cards and put the rest to the card with the highest interest
[more]

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Boards Post

aj485 replied to the Bonds & Fixed Income Investments board. 8:29 PM

Re: Laddered Bond Funds

Why not just buy a bond fund and take out the withdrawals as you need them?

Because bond funds without a specific maturity date can lose principal just at the time that the investor would need to take the money out. Per the OP's [more]

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Boards Post

aj485 replied to the Retirement Investing board. 4:34 PM

Re: Another IRA question

While you worked a half year last year you likely have enough earned income to make it moot, but... Yes, you need "earned income" to contribute to an IRA. You do not to contribute to a ROTH.

Sorry, that's incorrect. To [more]

Thu Feb 12

NL

Boards Post

aj485 replied to the Foolish 401(k)s board. 6:07 PM

Re: fees

My wife has a 403b plan with all the investments charging at least 2% in fees. Should we still contribute the $18000, if we already max out our Roth IRA's every year. Or does it make sence to contribute some of the 18000 to a taxable acct.,and pay [more]

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 4:30 PM

Re: One CC left - Advice?

I have continued to work on this goal, and decided to post an update.

Glad to see an update.

Opened a line of credit at 7.75%, and a new credit card with a 0% introductory rate on purchases. I transferred 14K into the line [more]

Wed Feb 11

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 2:28 PM

Re: The downside of 401k loans...

I'm going to make this argument, but she's not much of a numbers gal when it comes to finances, lol. In her mind, it's $13.8k paid plus $48k, vs a one time $19.3k and walking away. As both you and PSU mentioned, the long term value of that $48k is [more]

NL

Boards Post

aj485 replied to the Online Banking board. 1:49 AM

Re: Instant transfers between banks

Square Cash works by using debit cards.

It sounded interesting until this. If I even had a debit card (which I refuse to get because of the lack of legal protection to consumers), I would not trust it to an application on my [more]

Tue Feb 10

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 6:01 PM

Re: The downside of 401k loans...

And unfortunately, that's part of the problem. It doesn't register fully. The 401(k)'s did well last year. Really well, actually. The sum of our accounts today is actually higher than it was before we took out the loan.

Can you show [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 5:25 PM

Re: The downside of 401k loans...

I'm going to make this argument, but she's not much of a numbers gal when it comes to finances, lol. In her mind, it's $13.8k paid plus $48k, vs a one time $19.3k and walking away.

Maybe if you show her the statement where the 401(k) [more]

NL

Boards Post

aj485 replied to the Buying or Selling a Home board. 4:41 PM

Re: Refinance?

Currently im paying 4.25% interest rate on a 30 year FHA Loan with PMI.

Sorry, with an FHA loan, you have MIP (Mortgage Insurance Premium), not PMI (Private Mortgage Insurance).

My question is how difficult is it to remove [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 4:00 PM

Re: The downside of 401k loans...

Oops, sorry - copied the wrong part of the post. The part that I thought was important to repeat was the part about having more money in the 401(k).

AJ

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 3:18 PM

Re: The downside of 401k loans...

I should have read ahead.

It's probably a point that bears repeating.

AJ

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 12:50 PM

Re: The downside of 401k loans...

I think that DW should probably look at the numbers before making a decision. To me, having to pay $13.8k in deductible interest over the next 10 years would be much more preferable than having to pay $19.3k in penalties and taxes in the next 14 [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 12:06 PM

Re: The downside of 401k loans...

DW and I bought a house last year, and took out a 401k loan to help pay for some remodeling. Figured we'd be fine to pay it back over a few years. Without getting into too many details, we're quite likely going to have a change that requires us to [more]

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Boards Stats & Trivia

Big gold star, 5000 posts Feste Award Nominee! Old School Fool
Board Posts 8523
Recs Received 30999
People who have rec'd these posts 1498
Recs to Posts Ratio (last 30 days) 13.60
Threads Started 153
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Very First Post Re: Attention all Immigrants denied credit (6/17/1999)
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